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The Financial Action Task Force directed nations Friday to "prioritize" asset recovery, including by empowering investigators to forfeit funds and other property from suspected money launderers, corrupt officials and other parties who have yet to be convicted of a crime. FATF's now-revised 40 recommendations, which the group plans to publish this year, will newly require countries to introduce legislation that will not only give investigators within their jurisdictions power to "suspend" transactions for a limited period pending an inquiry, but also authorize them to permanently seize assets absent a criminal conviction. "The revised standards are a major milestone that will...